What Your Brand Should Learn From Past Health Crises
Learnings from past crises.
The world is undoubtedly experiencing an unprecedented situation right now. In many ways, however, there are essential insights that can be taken from past crises. What we’re learning is that in crises, such as the one we’re finding ourselves in right now, consumer spending habits shift towards value for money and appreciating offers and coupons. Offering value, whatever it may be for your brand, should therefore be on top of marketers’ lists right now.
Secondly, e-commerce naturally tends to flourish during pandemics and other health crises. It clearly experienced growth during the MERS outbreak, and data suggests a similar pattern this year, although ranging across industries. The good news is that a common theme among many of the previous health crises this world has seen, is that most economies rebound a mere year after the outbreak starts, at least to a degree. In addition, the level of digitalisation and its endless options can be relied on as a pivoting channel for many retailers unlike in the early 2000s.
Leverage on data.
One of the benefits of the forcely accelerated digital transformation many businesses have faced this year is data. Learnings about the motivations and behaviours of customers are commonly used to drive marketing and communications strategies. Nevertheless, many businesses still struggle with the resources, knowledge and capabilities to work with the data efficiently. Highlighted by Euromonitor International’s research, the role of tech in consumer buying habits is clear. This is why we believe that investing in understanding your customers is now more important than ever.
If you’re finding yourself wondering how to leverage your customer data to improve sales, customer retention or communications, get in touch with one of our specialists.
Focus on experience.
As Wise Marketer highlights, in times like these, dealing with customers with empathy is paramount. Understandably, many of them are experiencing high levels of anxieties over coming to your store. Hence, the best thing you could do for them is to provide an exceptional customer experience. Furthermore, a survey of UK shoppers in June 2020 revealed that the majority found shopping in brick and mortar ‘less enjoyable’ than pre-pandemic. Think about all the little and big ways you can invest in customer experience. Your customers will reward you with loyalty. Options range from providing a hygienic environment and payment options, including smart hand sanitiser dispensers, to reacting to customer feedback, to rewards that they value and that promote long term commitment.
If you need additional help finding ways to bond with your customers and create a more rewarding customer experience, consider Ipsos’ research based in behavioural science. Their framework highlights six areas that can drive or hinder emotional connection between customers and brand. These are Fair Treatment, Control, Status, Enjoyment, Belonging, and Uncertainty. Ipsos suggests that by fully diagnosing the state of these predictors among your customer base, your business can prioritise and redesign customer experience provided. This should lead to an increased emotional bond, which leads to higher retention and loyalty.
And how has your brand reacted and adapted to the new normal?
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Marketing & Customer Success Manager
Kristyna is our Marketing & Customer Success Manager. She helps White Label Loyalty reach the right businesses in need of a loyalty program and helps our clients' programs reach their full potential. She loves sharing her varied experience in marketing and loyalty by writing helpful resources on the blog from time to time for all loyalty novices and aficionados alike.